Investors target Hims & Hers in class action over data and billing claims

The litigation, spearheaded by Wolf Haldenstein Adler Freeman & Herz LLP, centers on claims that Hims & Hers obscured significant operational risks from the market. The complaint asserts that the company shared sensitive consumer health information with third-party advertising platforms, including Meta and Snap, while simultaneously misrepresenting the ease of canceling subscriptions and the nature of its medical consultation process. According to the suit, the firm charged customers for prescriptions immediately after intake forms were submitted, contradicting public assurances that patients would first consult with providers to determine appropriate treatments.

These allegations reached a breaking point on July 29, 2026, when the Federal Trade Commission, alongside authorities from California and Utah, filed suit in the Northern District of California. The regulatory action highlights failures to disclose billing practices and the unauthorized sharing of private health data. The market reacted sharply to the news, as Hims & Hers stock plummeted $4.32 per share, a 14.73% decline, to close at $25.00 that same day. Investors impacted by this drop are being urged to submit trade documentation to legal counsel to participate in the ongoing proceedings.